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12 Amendments of Valentino GRANT related to 2021/2061(INI)

Amendment 17 #
Motion for a resolution
Recital A
A. whereas the European Semester plays an essential role in coordinating economic and budgetary policies in the Member States;deleted
2021/07/15
Committee: ECON
Amendment 110 #
Motion for a resolution
Paragraph 5
5. Notes that the general escape clause of the Stability and Growth Pact will continue to be applied in 2022 and is expected to be deactivated as of 2023; notes, furthermore, that the decision to deactivate the general escape clause should be taken as an overall assessment of the state of the economy based on quantitative criteria, with the level of economic activity in the EU compared to pre-crisis levels as the key quantitative criterion; points out that country-specific situations will continue to be taken into account after the deactivation of the general escape clausebefore the deactivation of the general escape clause, the causes of the economic imbalances between Member States should be analysed in order to review the Stability and Growth Pact, better support growth and restore an adequate level of public investment;
2021/07/15
Committee: ECON
Amendment 131 #
Motion for a resolution
Paragraph 6
6. Is concernedNotes that according to the baseline scenario of the Commission’s latest Debt Sustainability Monitor, the debt ratio in the euro area is to peak at 104.6 % in 2024 and 2025, while the debt ratio in the Union is to peak at 96.5 % in 2024, before declining once again;
2021/07/15
Committee: ECON
Amendment 135 #
Motion for a resolution
Paragraph 7
7. Is convinced that coordination of national fiscal policies remains crucial inshould be overhauled to underpinning the recovery more effectively; notes that the overall fiscal stance, taking into account national budgets and the RRF, should remain supportive in 2021 and 2022;
2021/07/15
Committee: ECON
Amendment 147 #
Motion for a resolution
Paragraph 8
8. Highlights that fiscal policy should remain agile and adjust to the evolving situation as warranted, and that a premature withdrawal of fiscal support should be avoided; further highlights the expectation that economic activity will gradually normalise in the second half of 2021 and agrees that Member States’ fiscal policies should become more differentiated in 2022remain accommodative in 2022 and for as long as it takes to return to pre- crisis economic levels, duly taking into account the state of the recovery, fiscal sustainability and the need to reduce economic, social and territorial divergences;
2021/07/15
Committee: ECON
Amendment 168 #
Motion for a resolution
Paragraph 9
9. Notes that Member States with high debt should use the RRF to finance additional investment to support the recovery, while pursuing a prudent fiscal policy; stresses the importance of the Member States using the potential of the RFF to support the necessary structural changeinvestments and the transformation to more globally competitive, future-proof, agile industries; agrees that the growth of nationally financed current expenditure should be kept under control and be limited forprimarily oriented towards GDP growth through productive investment, fiscal and bureaucratic simplification, to allow Member States with high debt, allowing fiscal measures to maximise support to the recovery without pre- empting future fiscal trajectories and creating a permanent burden on public finances;
2021/07/15
Committee: ECON
Amendment 171 #
Motion for a resolution
Paragraph 10
10. Urges the Commission to reassess the budgetary situation of the Member States on the basis of the autumn 2021 economic forecast, before the Council concludes its deliberations on the ongoing Semester process;deleted
2021/07/15
Committee: ECON
Amendment 246 #
Motion for a resolution
Paragraph 17 a (new)
17a. Is concerned that the excessive imbalance relating to the current account surplus in the balance of payments has never been properly managed by the European Commission in its assessments of macroeconomic imbalances;
2021/07/15
Committee: ECON
Amendment 249 #
Motion for a resolution
Paragraph 17 b (new)
17b. Is further concerned about the rise in the level of private debt, which already exceeded 200% of GDP in several countries in the euro area in 2019; therefore calls for private debt to be regarded as an indicator alongside public debt when assessing a Member State’s overall debt position;
2021/07/15
Committee: ECON
Amendment 251 #
Motion for a resolution
Paragraph 18
18. Wishes that the Commission had presented targeted and tailor made CSRs for 2021, instead of identical CSRs for all Member States, which could have focused on areas not covered by the scope of the RRF;deleted
2021/07/15
Committee: ECON
Amendment 256 #
Motion for a resolution
Paragraph 19
19. Recalls that Member States, in their recovery and resilience plans, are required to effectively address all or a significant subset of challenges identified in the relevant CSRs, including the fiscal aspects thereof, and that beyond the scope of the RRF, those recommendations that are not addressed remain valid and will continue to be monitored under the European Semester framework;deleted
2021/07/15
Committee: ECON
Amendment 278 #
Motion for a resolution
Paragraph 20
20. Regrets the fact that the Commission has not promoted fiscal CSRs that promote medium-term fiscal sustainability, despite the fact that the activation of the general escape clause obliges Member States not to endanger fiscal sustainability in the medium term;deleted
2021/07/15
Committee: ECON